Both films are set in Middle-earth 60 years before Tolkien’s THE LORD OF THE RINGS, which Jackson and his filmmaking team brought to the big screen in the blockbuster trilogy that culminated with the Oscar-winning “The Lord of the Rings: The Return of the King.” The adventure of THE HOBBIT follows the journey of title character Bilbo Baggins, who is swept into an epic quest to reclaim the lost Dwarf Kingdom of Erebor from the fearsome dragon Smaug.

The first film, titled “The Hobbit: An Unexpected Journey,” will be released on December 14, 2012. The second film, titled “The Hobbit: There and Back Again,” is slated for release the following year, on December 13, 2013.

“The Hobbit” films are productions of New Line Cinema and MGM, with New Line managing production. Warner Bros Pictures is handling worldwide theatrical distribution, with select international territories as well as all international television licensing being handled by MGM.